Denver FHA Loans
DENVER-AURORA-LAKEWOOD, CO
FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.
FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.
While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.
For additional requirements as defined by the FHA, click here.
Denver's 250 lenders originated 16,540 FHA loans during 2021. The total origination value was $6,115,990,000, with an average FHA loan value of $369,770.
Denver FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Denver
averaged
6.15%
for the week of 2022-09-23, compared to the national average (all FHA variants) of
6.08% for the same period.
The average rate for the prior week (2022-09-16) was
5.85% and
one month ago for the week of 2022-08-19, the
average rate was 5.16%.
The average rate one year ago was 3.11%.
For refis of the same type during the week of 2022-09-23, the average rate
was 5.86%.
Denver FHA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Denver level.
The top Denver FHA lender as defined by loan originations is AMERICAN FINANCING CORPORATION, with
1,366 FHA loans originated. Their average total fees are
$10,371, which is $349
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Denver FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL MORTGAGE ($4,254), MID AMERICA MORTGAGE, INC. ($5,356), CHERRY CREEK MORTGAGE, LLC ($6,779), Mr. Cooper ( Nationstar Mortgage ) ($6,785) and AmeriHome Mortgage Company, LLC ($7,062).
The lowest rate Denver FHA lenders (with over 10 loans originated) are
UNION HOME MORTGAGE CORP. (2.38%), InterContinental Capital Group, Inc (2.54%), QUICKEN LOANS, LLC (2.59%), Ent Credit Union (2.63%) and HOME POINT FINANCIAL CORPORATION (2.65%).
Denver FHA Loan Limits
| Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
|---|---|---|---|---|---|---|
| DENVER-AURORA-LAKEWOOD, CO | ADAMS | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | ARAPAHOE | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | BROOMFIELD | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | CLEAR CREEK | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | DENVER | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | DOUGLAS | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | ELBERT | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | GILPIN | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | JEFFERSON | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | PARK | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Denver (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
|---|---|---|---|---|
| 2018-01-01 | $546,570 (3.3%) | $744,822 (2.8%) | 2.01 | 4,110 |
| 2018-02-01 | $549,450 (2.4%) | $753,738 (1.9%) | 1.98 | 4,264 |
| 2018-03-01 | $547,495 (-0.3%) | $758,267 (1.8%) | 1.89 | 4,628 |
| 2018-04-01 | $549,300 (1.9%) | $759,255 (4.6%) | 1.84 | 5,087 |
| 2018-05-01 | $535,750 (1.2%) | $742,102 (3.8%) | 1.79 | 5,670 |
| 2018-06-01 | $525,000 (0.0%) | $721,096 (2.6%) | 1.75 | 6,741 |
| 2018-07-01 | $502,498 (-2.4%) | $694,290 (0.3%) | 1.68 | 7,467 |
| 2018-08-01 | $495,600 (-0.9%) | $676,140 (-0.5%) | 1.66 | 7,798 |
| 2018-09-01 | $492,400 (-1.5%) | $667,257 (-1.7%) | 1.65 | 8,273 |
| 2018-10-01 | $480,000 (-4.0%) | $648,474 (-5.0%) | 1.61 | 8,464 |
| 2018-11-01 | $475,000 (-7.4%) | $639,865 (-8.9%) | 1.59 | 8,137 |
| 2018-12-01 | $479,999 (-10.8%) | $650,498 (-11.4%) | 1.64 | 6,560 |
| 2019-01-01 | $491,950 (-10.0%) | $661,317 (-11.2%) | 1.70 | 5,753 |
| 2019-02-01 | $499,500 (-9.1%) | $675,430 (-10.4%) | 1.67 | 5,766 |
| 2019-03-01 | $516,143 (-5.7%) | $689,065 (-9.1%) | 1.68 | 6,186 |
| 2019-04-01 | $524,500 (-4.5%) | $696,137 (-8.3%) | 1.65 | 6,733 |
| 2019-05-01 | $518,938 (-3.1%) | $679,586 (-8.4%) | 1.60 | 7,770 |
| 2019-06-01 | $518,000 (-1.3%) | $670,909 (-7.0%) | 1.59 | 8,716 |
| 2019-07-01 | $500,000 (-0.5%) | $660,323 (-4.9%) | 1.55 | 9,246 |
| 2019-08-01 | $499,951 (0.9%) | $658,699 (-2.6%) | 1.57 | 9,013 |
| 2019-09-01 | $499,450 (1.4%) | $657,690 (-1.4%) | 1.59 | 8,814 |
| 2019-10-01 | $495,000 (3.1%) | $656,004 (1.2%) | 1.58 | 8,782 |
| 2019-11-01 | $497,500 (4.7%) | $669,672 (4.7%) | 1.61 | 7,489 |
| 2019-12-01 | $497,950 (3.7%) | $680,171 (4.6%) | 1.66 | 6,379 |
| 2020-01-01 | $532,249 (8.2%) | $748,446 (13.2%) | 1.77 | 4,048 |
| 2020-02-01 | $561,300 (12.4%) | $791,748 (17.2%) | 1.81 | 3,655 |
| 2020-03-01 | $564,950 (9.5%) | $796,461 (15.6%) | 1.77 | 4,337 |
| 2020-04-01 | $547,000 (4.3%) | $736,906 (5.9%) | 1.70 | 5,103 |
| 2020-05-01 | $549,000 (5.8%) | $734,735 (8.1%) | 1.66 | 6,055 |
| 2020-06-01 | $547,000 (5.6%) | $734,420 (9.5%) | 1.60 | 6,670 |
| 2020-07-01 | $545,050 (9.0%) | $745,805 (13.0%) | 1.56 | 6,169 |
| 2020-08-01 | $539,900 (8.0%) | $755,974 (14.8%) | 1.54 | 5,804 |
| 2020-09-01 | $522,450 (4.6%) | $760,354 (15.6%) | 1.49 | 5,451 |
| 2020-10-01 | $519,900 (5.0%) | $762,124 (16.2%) | 1.49 | 4,879 |
| 2020-11-01 | $522,500 (5.0%) | $792,109 (18.3%) | 1.50 | 3,972 |
| 2020-12-01 | $536,292 (7.7%) | $819,898 (20.5%) | 1.57 | 2,927 |
| 2021-01-01 | $529,000 (-0.6%) | $833,923 (11.4%) | 1.56 | 2,293 |
| 2021-02-01 | $549,900 (-2.0%) | $859,898 (8.6%) | 1.58 | 2,100 |
| 2021-03-01 | $557,500 (-1.3%) | $876,447 (10.0%) | 1.56 | 2,200 |
| 2021-04-01 | $575,000 (5.1%) | $909,671 (23.4%) | 1.55 | 2,177 |
| 2021-05-01 | $599,000 (9.1%) | $917,319 (24.9%) | 1.58 | 2,257 |
| 2021-06-01 | $599,995 (9.7%) | $896,291 (22.0%) | 1.56 | 3,036 |
| 2021-07-01 | $600,000 (10.1%) | $873,356 (17.1%) | 1.56 | 3,630 |
| 2021-08-01 | $600,000 (11.1%) | $856,645 (13.3%) | 1.58 | 3,805 |
| 2021-09-01 | $600,000 (14.8%) | $855,096 (12.5%) | 1.58 | 3,783 |
| 2021-10-01 | $620,000 (19.3%) | $862,422 (13.2%) | 1.63 | 3,506 |
| 2021-11-01 | $622,135 (19.1%) | $879,008 (11.0%) | 1.64 | 2,714 |
| 2021-12-01 | $629,950 (17.5%) | $909,868 (11.0%) | 1.68 | 1,864 |
| 2022-01-01 | $639,900 (21.0%) | $1,006,692 (20.7%) | 1.71 | 1,384 |
| 2022-02-01 | $649,500 (18.1%) | $990,150 (15.2%) | 1.66 | 1,468 |
| 2022-03-01 | $662,500 (18.8%) | $977,545 (11.5%) | 1.64 | 1,787 |
| 2022-04-01 | $675,000 (17.4%) | $965,798 (6.2%) | 1.59 | 2,293 |
| 2022-05-01 | $695,000 (16.0%) | $955,792 (4.2%) | 1.56 | 3,377 |
| 2022-06-01 | $680,000 (13.3%) | $890,590 (-0.6%) | 1.51 | 4,807 |
| 2022-07-01 | $650,000 (8.3%) | $844,576 (-3.3%) | 1.45 | 6,186 |
| 2022-08-01 | $637,000 (6.2%) | $825,452 (-3.6%) | 1.46 | 6,529 |
Denver's median listing price comes in at 146% of the national average.
Denver's average listing price for 2022-08-01 was $825,452, a difference of $-31,193 (-3.6%) versus the prior year and $-19,124 versus the prior month.
For the 2022-08-01 period, Denver had 6,529 MLS listings, a difference of 343 listings (6%) versus the prior month and 2,724 listings (72%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Denver (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 55 days | 2,963 sqft |
| 2018-02-01 | 33 days | 3,007 sqft |
| 2018-03-01 | 25 days | 2,976 sqft |
| 2018-04-01 | 24 days | 2,977 sqft |
| 2018-05-01 | 23 days | 2,922 sqft |
| 2018-06-01 | 25 days | 2,856 sqft |
| 2018-07-01 | 30 days | 2,756 sqft |
| 2018-08-01 | 35 days | 2,674 sqft |
| 2018-09-01 | 37 days | 2,640 sqft |
| 2018-10-01 | 38 days | 2,532 sqft |
| 2018-11-01 | 44 days | 2,508 sqft |
| 2018-12-01 | 57 days | 2,520 sqft |
| 2019-01-01 | 60 days | 2,526 sqft |
| 2019-02-01 | 33 days | 2,549 sqft |
| 2019-03-01 | 35 days | 2,604 sqft |
| 2019-04-01 | 30 days | 2,645 sqft |
| 2019-05-01 | 29 days | 2,614 sqft |
| 2019-06-01 | 33 days | 2,601 sqft |
| 2019-07-01 | 36 days | 2,542 sqft |
| 2019-08-01 | 43 days | 2,497 sqft |
| 2019-09-01 | 43 days | 2,442 sqft |
| 2019-10-01 | 43 days | 2,437 sqft |
| 2019-11-01 | 50 days | 2,420 sqft |
| 2019-12-01 | 60 days | 2,335 sqft |
| 2020-01-01 | 63 days | 2,594 sqft |
| 2020-02-01 | 37 days | 2,909 sqft |
| 2020-03-01 | 24 days | 2,824 sqft |
| 2020-04-01 | 33 days | 2,703 sqft |
| 2020-05-01 | 40 days | 2,740 sqft |
| 2020-06-01 | 36 days | 2,541 sqft |
| 2020-07-01 | 36 days | 2,450 sqft |
| 2020-08-01 | 35 days | 2,296 sqft |
| 2020-09-01 | 35 days | 2,163 sqft |
| 2020-10-01 | 35 days | 2,043 sqft |
| 2020-11-01 | 43 days | 1,951 sqft |
| 2020-12-01 | 54 days | 1,920 sqft |
| 2021-01-01 | 49 days | 1,878 sqft |
| 2021-02-01 | 22 days | 1,973 sqft |
| 2021-03-01 | 15 days | 2,056 sqft |
| 2021-04-01 | 13 days | 2,188 sqft |
| 2021-05-01 | 12 days | 2,234 sqft |
| 2021-06-01 | 11 days | 2,263 sqft |
| 2021-07-01 | 17 days | 2,281 sqft |
| 2021-08-01 | 22 days | 2,231 sqft |
| 2021-09-01 | 23 days | 2,218 sqft |
| 2021-10-01 | 28 days | 2,248 sqft |
| 2021-11-01 | 33 days | 2,232 sqft |
| 2021-12-01 | 46 days | 2,197 sqft |
| 2022-01-01 | 35 days | 2,192 sqft |
| 2022-02-01 | 9 days | 2,213 sqft |
| 2022-03-01 | 9 days | 2,293 sqft |
| 2022-04-01 | 8 days | 2,306 sqft |
| 2022-05-01 | 10 days | 2,487 sqft |
| 2022-06-01 | 15 days | 2,455 sqft |
| 2022-07-01 | 24 days | 2,396 sqft |
| 2022-08-01 | 30 days | 2,333 sqft |
Denver's median square footage for active listings during the 2022-08-01 period was 2,333 sqft. One year prior, the average listing was 2,231 sqft.
